This morning sees the start of this year's World Economic Forum, a meeting of key Government and business representatives from the planet's most powerful countries, with the odd celebrity and a bit of skiing thrown in for good measure. Held in a resort that's dubbed the "winter playground of the rich and famous", many see the event as little more than a networking jolly for the rich and powerful.

The issues under discussion at the summit include sustainability, whether business needs morality, high energy prices and the dramatic rise of the Indian and Chinese economies - all of which are relevant to businesses across the globe. And the meeting counts among its aims the intention to discuss and exchange emerging trends, both in business ideas and good business practice.

But the rather spurious presence of celebrities like Michael Douglas and Angelina Jolie, as well as the amount of time spent out of the boardroom and on the slopes, led the Times to dub the event an absurd "beanfeast of pomp and platitude", with a meaningless agenda and a distinct air of self-aggrandisement. The author of the article, former FT editor Andrew Gowers, says more in a podcast on the subject.